Vestcor Inc Cuts Stock Position in eXp World Holdings, Inc. (NASDAQ:EXPI)

Vestcor Inc lessened its holdings in eXp World Holdings, Inc. (NASDAQ:EXPI) by 41.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,766 shares of the technology company’s stock after selling 7,496 shares during the quarter. Vestcor Inc’s holdings in eXp World were worth $124,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in EXPI. Principal Financial Group Inc. raised its stake in shares of eXp World by 3.9% in the 3rd quarter. Principal Financial Group Inc. now owns 400,286 shares of the technology company’s stock valued at $5,640,000 after acquiring an additional 15,024 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of eXp World by 3.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 66,399 shares of the technology company’s stock valued at $936,000 after acquiring an additional 2,126 shares during the period. Quest Partners LLC raised its stake in shares of eXp World by 19.7% in the 3rd quarter. Quest Partners LLC now owns 56,055 shares of the technology company’s stock valued at $790,000 after acquiring an additional 9,227 shares during the period. Intech Investment Management LLC purchased a new position in shares of eXp World in the 3rd quarter valued at $966,000. Finally, Charles Schwab Investment Management Inc. increased its stake in eXp World by 16.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,288,349 shares of the technology company’s stock worth $18,153,000 after buying an additional 183,823 shares during the period. Hedge funds and other institutional investors own 27.17% of the company’s stock.

Insiders Place Their Bets

In other eXp World news, CEO Glenn Darrel Sanford sold 25,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.52, for a total transaction of $288,000.00. Following the completion of the transaction, the chief executive officer now directly owns 40,147,450 shares of the company’s stock, valued at $462,498,624. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 311,630 shares of company stock valued at $3,387,961 in the last ninety days. Corporate insiders own 27.96% of the company’s stock.

eXp World Price Performance

eXp World stock opened at $9.65 on Wednesday. eXp World Holdings, Inc. has a 12-month low of $8.91 and a 12-month high of $15.39. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -68.92 and a beta of 2.33. The firm’s fifty day moving average price is $10.69 and its 200 day moving average price is $12.26.

eXp World (NASDAQ:EXPI) last released its quarterly earnings results on Thursday, February 20th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.03 billion. eXp World had a negative net margin of 0.47% and a positive return on equity of 5.75%. Analysts forecast that eXp World Holdings, Inc. will post 0.48 earnings per share for the current fiscal year.

eXp World Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, March 4th. eXp World’s dividend payout ratio is currently -142.86%.

Wall Street Analyst Weigh In

Separately, DA Davidson reaffirmed a “neutral” rating and set a $13.50 price target on shares of eXp World in a research note on Friday, February 21st.

eXp World Profile

eXp World Holdings, Inc, together with its subsidiaries, provides cloud-based real estate brokerage services for residential homeowners and homebuyers. The company operates through North American Realty, International Realty, Virbela, and Other Affiliated Services segments. It provides Virbela, a cloud-based technologies that provides data, lead generation, and marketing tools for real estate agents and employees.